LOANS AND LEASES (Tables)

9 Months Ended

Sep. 30, 2024

The following table provides a detailed listing of Huntington’s loan and lease portfolio.


(dollar amounts in millions)	At September 30, 2024		At December 31, 2023


















Commercial loan and lease portfolio:
Commercial and industrial	$	53,601	$	50,657
Commercial real estate	11,543		12,422
Lease financing	5,342		5,228
Total commercial loan and lease portfolio	70,486		68,307
Consumer loan portfolio:
Residential mortgage	24,100		23,720
Automobile	14,003		12,482
Home equity	10,129		10,113
RV and marine	6,042		5,899
Other consumer	1,627		1,461
Total consumer loan portfolio	55,901		53,675
Total loans and leases (1)(2)	126,387		121,982
Allowance for loan and lease losses	(2,235)		(2,255)
Net loans and leases	$	124,152	$	119,727

(1)Loans and leases are reported at principal amount outstanding including unamortized purchase premiums and discounts, unearned income, and net direct fees and costs associated with originating and acquiring loans and leases. The aggregate amount of these loan and lease adjustments was a net discount of $348 million and $323 million at September 30, 2024 and December 31, 2023, respectively.

(2)The total amount of accrued interest recorded for these loans and leases at September 30, 2024 was $314 million and $229 million of commercial and consumer loan and lease portfolios, respectively, and at December 31, 2023 was $333 million and $220 million of commercial and consumer loan and lease portfolios, respectively. Accrued interest is presented in accrued income and other receivables within the Unaudited Consolidated Balance Sheets.

Direct Financing Lease, Lease Income

The following table presents net investments in lease financing receivables by category.


(dollar amounts in millions)	At September 30, 2024		At December 31, 2023

Lease payments receivable	$	5,091	$	4,980
Estimated residual value of leased assets	868		804
Gross investment in lease financing receivables	5,959		5,784
Deferred origination costs	53		54
Deferred fees, unearned income and other	(670)		(610)
Total lease financing receivables	$	5,342	$	5,228

NALs and Past Due Loans

The following table presents NALs by class.


	At September 30, 2024				At December 31, 2023
(dollar amounts in millions)	Nonaccrual loans and leases with no ACL		Total nonaccrual loans and leases		Nonaccrual loans and leases with no ACL		Total nonaccrual loans and leases
Commercial and industrial	$	86	$	408	$	66	$	344
Commercial real estate	39		132		64		140
Lease financing	—		9		3		14
Residential mortgage	—		82		—		72
Automobile	—		5		—		4
Home equity	—		100		—		91
RV and marine	—		2		—		2

Total nonaccrual loans and leases	$	125	$	738	$	133	$	667

Aging Analysis of Loans and Leases

The following tables present an aging analysis of loans and leases, by class.


	Past Due (1)										Loans Accounted for Under FVO		Total Loans and Leases		90 or more days past due and accruing
(dollar amounts in millions)	30-59 Days		60-89 Days		90 or more days		Total		Current
At September 30, 2024
Commercial and industrial	$	83	$	34	$	172	$	289	$	53,312	$	—	$	53,601	$	6	(2)
Commercial real estate	9		13		39		61		11,482		—		11,543		—
Lease financing	30		10		17		57		5,285		—		5,342		16
Residential mortgage	198		77		214		489		23,436		175		24,100		164		(3)
Automobile	96		24		13		133		13,870		—		14,003		10
Home equity	60		34		86		180		9,949		—		10,129		20
RV and marine	22		6		4		32		6,010		—		6,042		3
Other consumer	13		6		5		24		1,603		—		1,627		5
Total loans and leases	$	511	$	204	$	550	$	1,265	$	124,947	$	175	$	126,387	$	224
At December 31, 2023
Commercial and industrial	$	90	$	48	$	90	$	228	$	50,429	$	—	$	50,657	$	1	(2)
Commercial real estate	28		20		32		80		12,342		—		12,422		—
Lease financing	35		15		9		59		5,169		—		5,228		4
Residential mortgage	205		88		193		486		23,060		174		23,720		146		(3)
Automobile	89		23		12		124		12,358		—		12,482		9
Home equity	66		32		83		181		9,932		—		10,113		22
RV and marine	17		5		4		26		5,873		—		5,899		3
Other consumer	13		4		4		21		1,440		—		1,461		4
Total loans and leases	$	543	$	235	$	427	$	1,205	$	120,603	$	174	$	121,982	$	189

(1)NALs are included in this aging analysis based on the loan’s past due status.

(2)Amounts include SBA loans and leases.

(3)Amounts include mortgage loans insured by U.S. government agencies.

Loan and Lease Balances by Credit Quality Indicator

The following tables present the amortized cost basis of loans and leases by vintage and credit quality indicator.


	At September 30, 2024
	Term Loans Amortized Cost Basis by Origination Year												Revolver Total at Amortized Cost Basis		Revolver Total Converted to Term Loans
(dollar amounts in millions)	2024		2023		2022		2021		2020		Prior						Total
Commercial and industrial
Credit Quality Indicator (1):
Pass	$	11,336	$	8,855	$	7,091	$	2,722	$	1,695	$	1,938	$	16,729	$	6	$	50,372
OLEM	94		157		152		50		13		28		215		—		709
Substandard	354		396		409		169		100		184		895		—		2,507
Doubtful	—		5		7		—		—		1		—		—		13
Total Commercial and industrial	$	11,784	$	9,413	$	7,659	$	2,941	$	1,808	$	2,151	$	17,839	$	6	$	53,601
Commercial real estate
Credit Quality Indicator (1):
Pass	$	934	$	1,166	$	3,076	$	1,425	$	996	$	1,999	$	571	$	—	$	10,167
OLEM	8		75		259		142		—		65		—		—		549
Substandard	222		37		269		123		4		161		11		—		827

Total Commercial real estate	$	1,164	$	1,278	$	3,604	$	1,690	$	1,000	$	2,225	$	582	$	—	$	11,543
Lease financing
Credit Quality Indicator (1):
Pass	$	1,349	$	1,728	$	990	$	610	$	400	$	185	$	—	$	—	$	5,262
OLEM	1		2		3		2		6		1		—		—		15
Substandard	2		14		29		6		6		8		—		—		65

Total Lease financing	$	1,352	$	1,744	$	1,022	$	618	$	412	$	194	$	—	$	—	$	5,342
Residential mortgage
Credit Quality Indicator (2):
750+	$	1,148	$	2,354	$	4,010	$	5,733	$	3,068	$	2,649	$	—	$	—	$	18,962
650-749	592		617		746		800		452		818		—		—		4,025
<650	36		55		110		106		67		564		—		—		938

Total Residential mortgage	$	1,776	$	3,026	$	4,866	$	6,639	$	3,587	$	4,031	$	—	$	—	$	23,925
Automobile
Credit Quality Indicator (2):
750+	$	3,249	$	1,817	$	1,503	$	1,065	$	432	$	167	$	—	$	—	$	8,233
650-749	1,872		1,138		827		544		201		82		—		—		4,664
<650	217		258		267		227		87		50		—		—		1,106

Total Automobile	$	5,338	$	3,213	$	2,597	$	1,836	$	720	$	299	$	—	$	—	$	14,003
Home equity
Credit Quality Indicator (2):
750+	$	154	$	350	$	388	$	464	$	482	$	212	$	4,543	$	230	$	6,823
650-749	57		98		82		52		47		82		2,039		220		2,677
<650	2		7		10		4		4		42		422		138		629

Total Home equity	$	213	$	455	$	480	$	520	$	533	$	336	$	7,004	$	588	$	10,129
RV and marine
Credit Quality Indicator (2):
750+	$	805	$	956	$	850	$	745	$	499	$	745	$	—	$	—	$	4,600
650-749	201		293		208		213		130		240		—		—		1,285
<650	4		19		22		32		22		58		—		—		157

Total RV and marine	$	1,010	$	1,268	$	1,080	$	990	$	651	$	1,043	$	—	$	—	$	6,042
Other consumer
Credit Quality Indicator (2):
750+	$	228	$	110	$	56	$	26	$	12	$	52	$	430	$	2	$	916
650-749	104		64		26		10		3		10		407		8		632
<650	5		10		5		2		1		2		45		9		79

Total Other consumer	$	337	$	184	$	87	$	38	$	16	$	64	$	882	$	19	$	1,627


	At December 31, 2023
	Term Loans Amortized Cost Basis by Origination Year												Revolver Total at Amortized Cost Basis		Revolver Total Converted to Term Loans
(dollar amounts in millions)	2023		2022		2021		2020		2019		Prior						Total
Commercial and industrial
Credit Quality Indicator (1):
Pass	$	14,677	$	9,889	$	3,673	$	2,151	$	1,187	$	1,431	$	14,563	$	3	$	47,574
OLEM	213		239		64		20		12		20		462		—		1,030
Substandard	393		305		188		150		83		184		750		—		2,053

Total Commercial and industrial	$	15,283	$	10,433	$	3,925	$	2,321	$	1,282	$	1,635	$	15,775	$	3	$	50,657
Commercial real estate
Credit Quality Indicator (1):
Pass	$	1,395	$	3,253	$	1,774	$	1,063	$	1,152	$	1,288	$	585	$	—	$	10,510
OLEM	163		406		112		65		32		54		60		—		892
Substandard	164		404		176		10		137		114		15		—		1,020

Total Commercial real estate	$	1,722	$	4,063	$	2,062	$	1,138	$	1,321	$	1,456	$	660	$	—	$	12,422
Lease financing
Credit Quality Indicator (1):
Pass	$	1,973	$	1,284	$	828	$	583	$	243	$	106	$	—	$	—	$	5,017
OLEM	16		22		6		5		2		9		—		—		60
Substandard	20		66		31		16		13		5		—		—		151

Total Lease financing	$	2,009	$	1,372	$	865	$	604	$	258	$	120	$	—	$	—	$	5,228
Residential mortgage
Credit Quality Indicator (2):
750+	$	2,077	$	3,963	$	6,028	$	3,292	$	749	$	2,191	$	—	$	—	$	18,300
650-749	950		1,024		964		510		186		775		—		—		4,409
<650	24		79		82		64		85		503		—		—		837

Total Residential mortgage	$	3,051	$	5,066	$	7,074	$	3,866	$	1,020	$	3,469	$	—	$	—	$	23,546
Automobile
Credit Quality Indicator (2):
750+	$	2,624	$	1,964	$	1,525	$	740	$	367	$	85	$	—	$	—	$	7,305
650-749	1,438		1,305		907		370		168		53		—		—		4,241
<650	170		281		266		118		64		37		—		—		936

Total Automobile	$	4,232	$	3,550	$	2,698	$	1,228	$	599	$	175	$	—	$	—	$	12,482
Home equity
Credit Quality Indicator (2):
750+	$	381	$	429	$	512	$	534	$	17	$	244	$	4,454	$	233	$	6,804
650-749	136		100		65		57		7		101		2,083		230		2,779
<650	2		6		3		3		2		43		344		127		530

Total Home equity	$	519	$	535	$	580	$	594	$	26	$	388	$	6,881	$	590	$	10,113
RV and marine
Credit Quality Indicator (2):
750+	$	1,206	$	971	$	867	$	588	$	295	$	612	$	—	$	—	$	4,539
650-749	289		248		252		158		91		210		—		—		1,248
<650	4		12		21		18		14		43		—		—		112

Total RV and marine	$	1,499	$	1,231	$	1,140	$	764	$	400	$	865	$	—	$	—	$	5,899
Other consumer
Credit Quality Indicator (2):
750+	$	186	$	80	$	39	$	19	$	17	$	48	$	424	$	3	$	816
650-749	98		43		17		6		5		12		383		13		577
<650	4		5		3		1		1		1		39		14		68

Total Other consumer	$	288	$	128	$	59	$	26	$	23	$	61	$	846	$	30	$	1,461

(1)Consistent with the credit quality disclosures, indicators for the Commercial portfolio are based on internally defined categories of credit grades.

(2)Consistent with the credit quality disclosures, indicators for the Consumer portfolio are based on updated customer credit scores refreshed at least quarterly.

The following tables present the gross charge-offs of loans and leases by vintage.


	Term Loans Gross Charge-offs by Origination Year												Revolver Gross Charge-offs		Revolver Converted to Term Loans Gross Charge-offs
(dollar amounts in millions)	2024		2023		2022		2021		2020		Prior						Total
Three months ended September 30, 2024
Commercial and industrial	$	1	$	7	$	30	$	13	$	1	$	2	$	8	$	1	$	63
Commercial real estate	2		2		—		1		—		—		4		—		9
Lease financing	—		1		—		1		—		—		—		—		2
Residential mortgage	—		—		—		—		—		—		—		—		—
Automobile	2		5		4		3		1		1		—		—		16
Home equity	—		—		—		—		—		1		—		1		2
RV and marine	—		1		1		2		1		2		—		—		7
Other consumer	5		6		4		2		1		4		—		8		30
Total	$	10	$	22	$	39	$	22	$	4	$	10	$	12	$	10	$	129
Nine months ended September 30, 2024
Commercial and industrial	$	1	$	17	$	60	$	35	$	12	$	6	$	28	$	2	$	161
Commercial real estate	11		4		30		3		—		24		4		—		76
Lease financing	—		2		1		2		—		1		—		—		6
Residential mortgage	—		—		—		—		—		2		—		—		2
Automobile	2		13		13		10		4		3		—		—		45
Home equity	—		—		—		—		—		1		1		4		6
RV and marine	—		2		3		5		3		8		—		—		21
Other consumer	8		19		12		6		3		11		—		26		85
Total	$	22	$	57	$	119	$	61	$	22	$	56	$	33	$	32	$	402

	Term Loans Gross Charge-offs by Origination Year												Revolver Gross Charge-offs		Revolver Converted to Term Loans Gross Charge-offs
(dollar amounts in millions)	2023		2022		2021		2020		2019		Prior						Total
Three months ended September 30, 2023
Commercial and industrial	$	2	$	21	$	6	$	6	$	15	$	1	$	3	$	—	$	54
Commercial real estate	5		6		—		—		10		—		7		—		28
Lease financing	—		3		—		—		—		—		—		—		3
Residential mortgage	—		—		—		—		—		1		—		—		1
Automobile	1		5		3		1		1		1		—		—		12
Home equity	—		—		—		—		—		1		—		1		2
RV and marine	—		—		1		1		1		2		—		—		5
Other consumer	5		5		3		1		1		4		—		7		26
Total	$	13	$	40	$	13	$	9	$	28	$	10	$	10	$	8	$	131
Nine months ended September 30, 2023
Commercial and industrial	$	4	$	39	$	23	$	13	$	26	$	11	$	7	$	1	$	124
Commercial real estate	5		9		19		—		15		5		7		—		60
Lease financing	—		3		1		1		—		1		—		—		6
Residential mortgage	—		—		1		—		—		3		—		—		4
Automobile	1		11		11		5		4		3		—		—		35
Home equity	—		—		—		—		—		1		1		4		6
RV and marine	—		1		2		2		2		5		—		—		12
Other consumer	8		18		11		4		4		10		—		20		75
Total	$	18	$	81	$	68	$	25	$	51	$	39	$	15	$	25	$	322

Summary of Modifications

The following table summarizes the amortized cost basis of loans modified during the reporting period to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of modification.


	Amortized Cost
(dollar amounts in millions)	Interest rate reduction		Term extension		Payment deferral		Combo - interest rate reduction and term extension		Total		% of total loan class (1)
Three months ended September 30, 2024
Commercial and industrial	$	22	$	165	$	—	$	17	$	204	0.38	%
Commercial real estate	—		168		—		11		179		1.55
Residential mortgage	—		15		1		1		17		0.07
Automobile	—		3		—		—		3		0.02
Home equity	—		1		—		3		4		0.04

Other consumer	1		—		—		—		1		0.06
Total loans to borrowers experiencing financial difficulty in which modifications were made	$	23	$	352	$	1	$	32	$	408	0.34	%
Three months ended September 30, 2023
Commercial and industrial	$	1	$	147	$	—	$	1	$	149	0.30	%
Commercial real estate	—		52		—		4		56		0.44
Residential mortgage	—		15		—		1		16		0.07
Automobile	—		4		—		—		4		0.03
Home equity	—		—		—		3		3		0.03


Total loans to borrowers experiencing financial difficulty in which modifications were made	$	1	$	218	$	—	$	9	$	228	0.20	%
Nine months ended September 30, 2024
Commercial and industrial	$	42	$	240	$	—	$	63	$	345	0.64	%
Commercial real estate	—		228		—		25		253		2.19
Residential mortgage	—		37		5		3		45		0.19
Automobile	—		10		—		1		11		0.08
Home equity	—		4		—		9		13		0.13
RV and marine	—		1		—		—		1		0.02
Other consumer	1		—		—		—		1		0.06
Total loans to borrowers experiencing financial difficulty in which modifications were made	$	43	$	520	$	5	$	101	$	669	0.55	%
Nine months ended September 30, 2023
Commercial and industrial	$	33	$	291	$	—	$	4	$	328	0.66	%
Commercial real estate	—		138		—		4		142		1.12
Residential mortgage	—		50		2		3		55		0.23
Automobile	—		11		—		1		12		0.09
Home equity	—		1		—		8		9		0.09
RV and marine	—		1		—		—		1		0.02
Other consumer	1		—		—		—		1		0.07
Total loans to borrowers experiencing financial difficulty in which modifications were made	$	34	$	492	$	2	$	20	$	548	0.47	%

(1)Represents the amortized cost of loans modified during the reporting period as a percentage of the period-end loan balance by class.

The following table describes the financial effect of the modification made to borrowers experiencing financial difficulty.


	Interest Rate Reduction (1)				Term Extension (1)
	Weighted-average contractual interest rate				Weighted-average years added to the life
	From		To
Three months ended September 30, 2024
Commercial and industrial	7.81	%	6.56	%	0.7
Commercial real estate	8.60	%	7.96	%	1.0
Residential mortgage					5.8




Three months ended September 30, 2023
Commercial and industrial					1.0
Commercial real estate					0.6
Residential mortgage					8.4




Nine months ended September 30, 2024
Commercial and industrial	8.80	%	7.60	%	0.8
Commercial real estate	8.26	%	7.90	%	1.0
Residential mortgage					6.9
Automobile					1.6
Home equity					12.7


Nine months ended September 30, 2023
Commercial and industrial	7.96	%	7.25	%	1.0
Commercial real estate					0.7
Residential mortgage					7.6
Automobile					2.0

(1) Certain disclosures related to financial effects of modifications do not include those deemed to be immaterial.

The following table depicts the performance of loans that have been modified during the identified period.


	Past Due
(dollar amounts in millions)	30-59 Days		60-89 Days		90 or more days		Total		Current		Total
At September 30, 2024
Commercial and industrial	$	1	$	2	$	4	$	7	$	418	$	425
Commercial real estate	9		—		5		14		245		259
Residential mortgage	10		4		11		25		29		54
Automobile	2		1		—		3		12		15
Home equity	1		—		4		5		11		16
RV and marine	—		—		—		—		1		1
Other consumer	—		—		—		—		2		2
Total loans to borrowers experiencing financial difficulty in which modifications were made in the twelve months ended September 30, 2024	$	23	$	7	$	24	$	54	$	718	$	772
At September 30, 2023 (1)
Commercial and industrial	$	2	$	1	$	3	$	6	$	322	$	328
Commercial real estate	—		5		1		6		136		142
Residential mortgage	10		5		7		22		33		55
Automobile	1		—		—		1		11		12
Home equity	—		—		1		1		8		9
RV and marine	—		—		—		—		1		1
Other consumer	—		—		—		—		1		1

Total loans to borrowers experiencing financial difficulty in which modifications were made in the nine months ended September 30, 2023 (1)	$	13	$	11	$	12	$	36	$	512	$	548

(1) Huntington adopted ASU 2022-02 - Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures effective January 1, 2023, therefore, the September 30, 2023 presentation only includes loans since guidance became effective.